A limited constitutional government calls for a rules-based, freemarket monetary system, not the topsy-turvy fiat dollar that now exists under central banking. This issue of the Cato Journal examines the case for alternatives to central banking and the reforms needed to move toward free-market money.

The more widespread use of body cameras will make it easier for the American public to better understand how police officers do their jobs and under what circumstances they feel that it is necessary to resort to deadly force.

Americans are finally enjoying an improving economy after years of recession and slow growth. The unemployment rate is dropping, the economy is expanding, and public confidence is rising. Surely our economic crisis is behind us. Or is it? In Going for Broke: Deficits, Debt, and the Entitlement Crisis, Cato scholar Michael D. Tanner examines the growing national debt and its dire implications for our future and explains why a looming financial meltdown may be far worse than anyone expects.

The Cato Institute has released its 2014 Annual Report, which documents a dynamic year of growth and productivity. “Libertarianism is not just a framework for utopia,” Cato’s David Boaz writes in his book, The Libertarian Mind. “It is the indispensable framework for the future.” And as the new report demonstrates, the Cato Institute, thanks largely to the generosity of our Sponsors, is leading the charge to apply this framework across the policy spectrum.

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Band-aids Can’t Fix the New IPCC Report

The U.N.’s Intergovernmental Panel on Climate Change (IPCC) today released the Summary for Policymakers (SPM) of the physical science volume of its Fifth Assessment Report. The SPM is the most widely-read section of the IPCC reports and purports to summarize and highlight the contents of the thousand-odd pages of the full report. The SPM is agreed to word by word by the international attendees of the IPCC’s final editorial meeting which concluded as the SPM was released.

The Humpty Dumpty-esque report once claiming to represent the “consensus of scientists” has fallen from its exalted wall and cracked to pieces under the burdensome weight of its own cumbersome and self-serving processes, which is why all the governments’ scientists and all the governments’ men cannot put the IPCC report together again.

The pace of climate science far surpasses the glacial movements of large, cumbersome international efforts at consensus building, such as the IPCC, which is why the new report has experienced such a disastrous crack-up.

For example, just this past May, a blockbuster finding was published that the climate sensitivity—how much the earth’s average surface temperature increases as a response to increasing greenhouse gas concentrations—is some 40% less than the average value characteristic of the collection of climate models that the IPCC used to produce the projections of future climate change—projections which are at the heart of the IPCC reports. But by the time this paper was published (and several others with similar conclusions), it was far too late to go back and try to fix the climate models and then rerun the projections.

The fact is that the IPCC’s climate models need fixing. Prima facie evidence is that they cannot even track the evolution of broadest measure of climate, the earth’s average temperature, for the last 10-20 years. Despite this being widely obvious to everyone, it didn’t find its way into the scientific literature (although not without trying) until earlier this month.

As a result, the latest science on two key issues: how much the earth will warm as a result of human greenhouse gas emissions, and how well climate models perform in projecting the warming, are largely not incorporated in the new IPCC report.

Which renders the new IPCC report, and its “four years’ work by hundreds of experts” not only obsolete on its release, but completely useless as a basis to form opinions (or policy) related to human energy choices and their influence on the climate.

The IPCC report should be torn up and tossed out, and with it, the entire IPCC process which produced such a misleading (and potentially dangerous) document.